Cypress commissions initial NI 43-101 resource estimate for Gunman, Nevada zinc-silver project, and seeks additional mineral rights
Vancouver, British Columbia. Cypress Development Corp. (TSX-V: CYP; OTC Pink: CYDVF; Frankfurt: C1Z) is pleased to announce that there is an independent “Technical Report” and a National Instrument (“NI”) 43-101 resource estimate for the 100 percent proprietary Gunman Zinc-Silver Project in northeast Eureka, Nevada. The company is also in the process of staking additional contiguous claims to develop the potential north and south of strike extensions of the known high grade zinc-silver mineralization discovered on the Gunman Project. Cypress' Gunman zinc-silver project is located between the productive Carlin and Battle Mountain sections in White Pine County, Nevada.
Map of the Zinc Silver Project Gunman:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/nevada.gif
Don Huston, President of Cypress, said, “The Gunman Project is a high quality asset in Cypress' portfolio and has significant exploration potential. The Company completed three RC drill programs on the project totaling approximately 38.000 feet and returned significant values of five to 33 percent zinc and 0,5 to 15,0 ounces of silver per ton over substantial widths. Due to the currently increasing demand and an impending supply bottleneck as a result of the closure of numerous large mines worldwide, the forecast for the zinc market is extremely positive. A zinc demand of over two million tons is forecast by 2016, but only a few new zinc mines are currently being developed. We believe that the price of this commodity will rise sharply and that the high grade of the Gunman shallow zinc-silver project will help Cypress and its shareholders benefit from this potential price increase. "
Significant high-grade zinc-silver results at Gunman:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/holes.gif
Cypress has engaged Riverbend Geological Services to prepare an independent "technical report" and a NI 43-101 mineral resource estimate for the 100-owned company's Gunman nuclear-silver project in Nevada, USA.
The near-surface Gunman RH North Zone is a new discovery made using vertical drilling in the overlying gravel deposits and in the underlying mineralized limestone. Subsequent work was limited due to adverse market conditions and many targets have not been tested. The strike of the well-known zinc and silver mineralized zones in the Gunman Property extends over approximately 4,200 feet.
Further drilling is planned to further delineate the high grade RH zone at Gunman and evaluate nearby targets on strike. Cypress cut over one percent of zinc mineralization in the last drill hole drilled north-northeast in 2007 as part of 1.500 foot drilling. The contents in this hole are similar to those measured on the east and west sides of the high-grade major zone RH. The mineralization is a carbonate displacement and consists almost exclusively of zinc oxide. There is considerable potential in the Gunman project to identify another high grade zinc-silver mineralization.
Zinc oxide zones near Gunman, looking west:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/gunmnprspc.gif
The mineralization on Cypress' Gunman Property appears to be structurally limited along a north-northeast trending fault zone. The mineralization consists of extremely high-grade zinc oxides and sulphides, as well as silver, arsenic, gold and mercury, and is located in host rocks of Permian limestone. Previously reported significant assay results from Cypress' drilling include zinc values ranging from five to 30 percent per tonne and silver values ranging from 0,5 to 15 ounces per tonne over substantial widths. Gold values in excess of 0,035 ounces per ton have also been measured locally in mineralized zones.
The Company also announces that under its stock option plan, Cypress has issued bonus stock options to certain directors, officers, employees and consultants of the Company for the purchase of up to 11.977.000 common stock of the Company. These can be exercised within five years at a price of 0,05 $ per share. The stock options are subject to TSX Venture Exchange approval and shareholder approval for the company's insiders.
About Cypress Development Corp .:
Cypress Development Corp. is a diversified precious and base metal exploration and development company with properties in Red Lake, Ontario, Canada and Nevada, USA.
Robert Marvin (P.Geo., CPG), Exploration Manager of Cypress Development Corp., oversaw field work on the project and the preparation of technical information in this news release as a Qualified Person as defined by National Instrument 43-101.
To learn more about Cypress Development Corp. (TSX-V: CYP), please visit our website at www.cypressdevelopmentcorp.com.
FOR THE BOARD OF DIRECTORS:
"Don Huston"
DONALD C. HUSTON
President
For further information please contact me or:
Don Myers
General Manager
Cypress Development Corp.
Phone: 604-687-3376
Toll Free: 800-567-8181
Fax: 604-687-3119
Email: ppgad@pucrs.br
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This release contains certain statements that may be considered "forward-looking statements." All statements in this release, other than statements of historical fact, that relate to events or developments that the company's management expects are forward-looking statements. Although management believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future events. Current results or developments may differ materially from those expressed in the forward-looking statements were brought. The Company is under no obligation to update these forward-looking statements should management's assumptions, estimates, opinions or other factors change. Factors that could cause actual results to differ materially from those expressed in forward-looking statements include market prices, exploration and development gains, the continued availability of capital, and terms and conditions of the economy, the market, or the business. For more information, please read the Company's public statements at www.sedar.com.
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Source: IRW-Press.com.
